Julie is a Partner and currently heads the Private Wealth department – a team noted in both Legal 500 and Chambers legal directories for the quality of expertise offered to both national and international clients.
Since joining Mundays as a solicitor in 2006, Julie has developed a breadth of private client expertise including complex Wills, lifetime capital tax-planning, Business Property Relief and ancillary advice on succession planning for business owners, domicile and cross-border issues for international clients, private and charitable trusts together with the administration of estates.
Julie also has a long-standing interest and solid background in elderly client work such as planning for care home fees, preparation of lasting powers of attorney, registration of powers of attorney and Court of Protection applications.
In addition, she is proud to be a full member of the Society of Trust and Estate Practitioners (STEP) and a full accredited member Solicitors for the Elderly; both organisations offering a recognised standard of quality in good, technically-sound advice to private clients. For her expertise in Wills, she is compliant with STEP's Will writing code which ensures the best quality product and advice for clients' needs. Julie has also completed the STEP Advanced Certificate in Family Business Advising with Distinction.
Julie has written extensively for several publications including Essence magazine, Mature Times, Retirement Planner, New Law Journal and is a regular speaker at Mundays breakfast seminars, seminars held jointly with accountants and other events such as Fabulous Woman.
Julie has been shortlisted for Private Client Lawyer of the Year at the Surrey Law Society Legal Awards 2018.
Julie Man was named Best Private Wealth Lawyer UK – 2016 in the ‘2016 Women in Wealth Awards’ and has been named Individual - Private Client Lawyer of the Year in England in the ‘Corporate INTL Global Awards 2017’.
- Advising a couple on effective Wills with protective trust structures with Inheritance tax planning for their £12 million estate, detailed advice on Business Property Relief and cross-option agreements involving a non-family partner and ensuring the family wealth is passed to the next generation through an appropriate tax efficient trust structure.
- Complex Inheritance tax and Private International Law issues clarified for mixed domicile couple (second marriage) and the importance of an overseas Will dealing with land and asset preservation structures for children of first marriage.
- Excluded Property trust created for South African non-domiciled client with advice on implications for later acquisition of UK domicile and/ or residence.
- Implications of future claims by children and the use of no-contest clauses for a mixed-domiciled couple and the impact of their intention to retire in the UK or overseas.
- Advising clients on the limitations of restrictions in LPAs, challenging the Office of the Public Guardian regarding severance of provisions in clients’ LPAs successfully and the importance of planning appropriately with separate LPAs for business and personal assets.
- Inheritance Tax effective structures for Ultra High Networth non-domiciled clients to hold UK property in light of ATED and new CGT rules for UK non-residents holding residential property
Generational planning for the Family Business
- Gave advice to the owners of a family business worth over £100 million on their Wills and passing the family business protectively, but in the most tax efficient manner by maximising on Business Property Relief (‘BPR’). Worked in conjunction with our Corporate Department to review the corporate papers to ensure there were no provisions which would deny BPR. Advised on the family’s charity foundation and incorporating it into their Wills to attract the reduced rate of tax for charities from 40% to 36% for inheritance tax. Structured tax efficient Wills passing the remainder of the family wealth to subsequent generations through protective trusts. Maximised upon lifetime tax planning by creating discretionary trusts in favour of the next generation. This enabled the clients to pass their substantial excess income that is surplus to their needs into a family trust using the gifts out of excess income relief and removing the value from the clients’ estates.
- Advised 2 majority shareholders/ Business Partners and their families. Advised each Partner and their wives relating to their Wills, Lasting Powers of Attorney and company matters. Provided BPR tax planning in their respective Wills. Ensured the company papers were reviewed, which contained provisions that would deny BPR. Worked with the Corporate Department to put in place an appropriate Cross Option Agreement and Declarations of Trusts relating to the joint shareholdings held between husband and wife. Advised the Partners on putting in place appropriate Shareholder Protection Life Policies to enable the surviving main business partner to carry on the business following the death of the other major business partner, without the interference of the family of the deceased business partner who are not active or involved in the running of the business. Acted in settling the Shareholder Protection Policies into separate discretionary trusts so that the policy proceeds pass outside the estate of the deceased business partner and are available to the surviving business partner to purchase the deceased’s shareholding if he decided to exercise the option under the Option Agreement. Acted also for the father of each business Partner in passing their BPR shareholdings into discretionary trusts in favour of their grandchildren. This removed the shares and any dividend income from them from their estates, which is held in trust. The Trustees have powers to make discretionary payments to the grandchildren to assist with education, school fees, maintenance etc.
US International Tax Planning
- Our clients also jointly own property assets in excess of £10 million. The wife is a US citizen and the husband a UK citizen, both are resident in the UK. The husband does not hold US citizenship or a green card. The wife’s US citizenship has a considerable impact on the couple’s estate planning. Advised on the most tax efficient estate planning and legacy structure, considering the UK and US regimes. Through careful structuring, we worked to enable the clients to ensure the spousal exemption in the US is available. The wife was been advised to have a US Will, which leaves her assets in a Qualifying Domestic Trust (‘QDOT’) for her husband. This essentially gives the husband a life interest in the assets, but with more restrictions than the UK trust equivalent. By doing this she ensures the spouse exemption in the US is available and she can leave her husband her assets without US estate tax being payable on her death. The QDOT defers US tax until her husband’s death. To complement the wife’s estate planning, the husband will leave his estate to her on an Immediate Post Death Interest so that it does not form part of her US estate for US estate tax purposes.
- Advised a couple holding a US $13 million plus investment portfolio who had returned to the UK. As non-resident individuals, they had limited US tax exemptions available. Recommended they put in place US QDOT Wills to enable the surviving spouse to inherit the investment portfolio whilst mitigating US Tax. Investments were moved from the US into non-US based investments over time and a UK Wills drafted to ensure the provisions are US-friendly. On the survivor’s death assets will be split between the couple’s family so that their children take absolute interests and their grandchildren benefit through tax efficient and protective Immediate Post Death Interests.
Investing for the Grandchildren
Are You Covered On This Side Of The Pond?
Looking after your Children's Future with a Will
Cyberspace - Anything to do with Wills?
Our Right to Die
In Safe Hands
Empowering others when you can't care for yourself
Why make a will?